A country that fails to learn from their mistakes is destined to repeat their mistakes.

One of the reasons that History is a required course in our schools.  We need to learn from our past, in order to avoid making the same mistakes.

But, what if the History that we are taught is wrong?

We have all learned in school that FDR single-handed pulled our country out of the Great Depression with his New Deal.  But, remember, history is written by the winners.  And, history is usually biased, it is after all written by human beings.  Always examine your source. 

In the case of FDR and the New Deal – maybe the historians got it wrong, or were biased.

I had heard of a recent study, whose finding suggest that the above history was wrong.  Michelle Malkin posted it on her site today, after hearing Obama’s latest speech.  Because it is something that we should think about, before we cowtow to Obama’s “New Deal”.

A study release in 2004 by two UCLA economists found that “FDR’s policies prolonged Depression by 7 years”

Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.

After scrutinizing Roosevelt’s record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.

“Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump,” said Ohanian, vice chair of UCLA’s Department of Economics. “We found that a relapse isn’t likely unless lawmakers gum up a recovery with ill-conceived stimulus policies.”

In an article in the August issue of the Journal of Political Economy, Ohanian and Cole blame specific anti-competition and pro-labor measures that Roosevelt promoted and signed into law June 16, 1933.

….“High wages and high prices in an economic slump run contrary to everything we know about market forces in economic downturns,” Ohanian said. “As we’ve seen in the past several years, salaries and prices fall when unemployment is high. By artificially inflating both, the New Deal policies short-circuited the market’s self-correcting forces.”

Mr. Obama, did you hear that?  Before stealing over a TRILLION dollars from our future, maybe you should listen up.

Read Obama’s speech.  Do you think that he gets it?  I don’t know, it looks like another public works project to me….

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